Sellers amassing positions in BTCUSD targeting price decline to 67,150

The BTCUSD exchange rate showed moderate growth on Tuesday, continuing its three-day correction. The cryptocurrency's dynamics are supported by the ongoing uncertainty surrounding US trade policy. President Donald Trump has already imposed 25% duties on imports of cars and auto parts, as well as an additional 10% tariff on goods from China. Investors expect further trade measures to be announced on April 2, adding to market tensions.

Although an outflow from short positions might indicate easing pressure on Bitcoin, at this stage, the behavior of major players is likely related to profit-taking and risk reassessment rather than a trend reversal. Under these conditions, the short-term outlook for BTC remains bearish.

Technical analysis of BTCUSD on the daily chart (D1) shows a medium-term correction unfolding within the prevailing long-term uptrend. The double-top pattern is proving significant after the break of support at $92,000, revealing a ‘descending zigzag’ structure.

The current chart shows price consolidation below the 83,500 level, which is acting as local resistance. Price slipping from this level could confirm the potential for further decline, with the primary target near 75,850. In case of a breakdown below this support level, a move to the lower boundary of the ascending channel is likely.

Candlestick analysis confirms the predominance of sellers: bullish candles lack significant strength and tend to form during corrections. The current dynamics indicate the sellers' advantage in the absence of clear reversal patterns.

The Moving Average of Oscillator (OsMA) (12, 26, 9) indicator remains in the negative zone, where the histogram shows growing ‘bearish’ energy. There is no divergence, reinforcing the probability of further downward momentum.

Signal:

The short-term outlook for BTCUSD suggests a price decline with a target of 67,150.00.

Partial profit taking is recommended around 75,850.00, while the loss limitation level is set at 95,150.00.

The bearish scenario is short-term, so a trading volume should not exceed 2% of your balance.